3Q17 results

Keppel Infrastructure Trust reports flat 3Q DPU of 0.93 cent

SINGAPORE (Oct 16): The trustee-manager of Keppel Infrastructure Trust (KIT) has declared distribution per unit (DPU) of 0.93 cent for the 3Q ended September, unchanged from a year ago.

Group revenue for 3Q17 was flat at $160.3 million, as lower revenue from the concessions, Basslink, and CityNet was offset by higher revenue from City Gas.

The concessions, comprising Senoko WTE, Tuas WTE, SingSpring Desalination and Ulu Pandan NEWater plants, saw revenue fall 22.4% to $25.3 million in 3Q, from $32.6 million a year ago.

CIMB cuts UMS to ‘hold’ on moderating demand in second half of the year

SINGAPORE (Aug 14): CIMB is downgrading UMS Holdings to “hold” as it expects demand to moderate in 2H17.

Management says demand from a major customer of UMS is expected to moderate in 2H17. The renewed system integration contract announced earlier this year has a lower average selling price. UMS will mitigate this via efforts to increase production activities in lower-cost Penang where its new cleanroom and new system integration team will be ready in 3Q17.

Fraser and Neave 3Q earnings soar to $1.2 bil on realisation of fair value reserves from Vinamilk stake change

SINGAPORE (Aug 8): Fraser and Neave reported 60% rise in earnings before exceptional items to $60.7 million for 3Q17 from $38 million a year ago.

Including exceptional items of $1.2 billion, which arose largely from the realisation of fair value reserves upon change of interests in Vinamilk, group 3Q17 earnings soared to $1.3 billion, from $38.6 million.

LHN swings to 3Q net loss of $3.7 mil

SINGAPORE (Aug 7): LHN Limited, the property management services group, swung to a 3Q17 net loss of $3.7 million compared to earnings of $1.9 million a year ago.

The group’s bottom line was affected mainly by $2.9 million in dual listing expenses related to its proposed dual primary listing on the Mainboard of The Stock Exchange of Hong Kong.

Triyards sinks into losses for 3Q and 9M

SINGAPORE (July 21): Shipbuilder and repairer Triyards Holdings sunk into losses of US$63.3 million for 3Q17 ended May compared to a profit of US$4.1 million a year ago.

For the 9M17 ended May, losses came in at US$67.5 million, compared to a profit of US$15.6 million a year ago.

Triyards says the losses were due to a US$45.1 million for the impairment of certain assets in 3Q17, lower revenue contribution and cost overruns from certain projects.

SPH earnings fall 45% to $28.9 mil in 3Q

SINGAPORE (July 14): Singapore Press Holdings (SPH) posts earnings of $28.9 million for the third quarter ended May, falling 45.2% from earnings of $52.7 million a year ago.

This was partially due to a $9.4 million increase in impairment charges to $37.8 million on goodwill and intangibles, primarily related to the magazine business. The group recognised impairment charges of $28.4 million a year ago.

In a filing to SGX on Friday, SPH says its magazine business’ performance has continued to deteriorate further amid unfavourable market conditions.

Second Chance Properties 3Q earnings up 72% to $5.4 mil on one-off gains

SINGAPORE (June 29): Second Chance Properties posted earnings of $5.4 million for the third quarter ended May, up 72.3% from $3.1 million a year ago.

This was mainly attributable to a four-fold increase in other income to $2.8 million, from $0.7 million in 3Q16, comprising mainly of profit on disposal of securities.

During the period, the company accepted cash offer on de-listing of one of the available-for sale equity securities resulting in a profit of $2.2 million. There was no disposal of available-for-sale securities a year ago.

Silverlake posts six-fold increase in 3Q earnings to $128.7 mil on one-off gain

SINGAPORE (May 15): Silverlake Axis saw earnings in the third quarter ended March increase by more than six fold to RM398.4 million ($128.7 million), compared to RM61.5 million a year ago.

This increase was mainly attributed to a one-off gain of RM477.7 million on the disposal of 34.9 million shares in Global InfoTech Co (GIT) during the quarter.

Group revenue in 3Q17 fell 21% to RM124.4 million, from RM157.0 million a year ago.

Croesus Retail Trust reports 15.2% higher DPU of 2.05 cents

SINGAPORE (May 15): The trustee-manager of of Croesus Retail Trust reported a DPU of 2.05 cents for 3Q17, 15.2% higher than the DPU of 1.78 cents a year ago.

For 3Q17, CRT reported gross revenue of JPY 3,019 million, up 22.4% from JPY 2,466 million in 3Q16.

Lum Chang 3Q earnings fall 40% to $4.2 mil

SINGAPORE (May 12): Lum Chang Holdings posted a 40% drop in earnings to $4.2 million in the third quarter ended March, from $6.9 million a year ago.

Revenue grew 27% to $98.2 million in 3Q17, from $77.1 million in the corresponding quarter last year.

This was mainly due to revenue of $68.2 million recognised for two construction projects during the quarter. This was partially offset by lower revenues from substantially completed construction projects.

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